Oil rises on U.S. supply, economic data

Prices for crude oil and natural gas moved in opposite directions after the U.S. government issued weekly supply reports for both fuels.
By The Associated Press Modified: September 5, 2013 at 9:22 pm •  Published: September 6, 2013
Advertisement
;

On the economic front, the Labor Department released data Thursday showing applications for U.S. unemployment benefits fell to 323,000 last week, near their lowest level in 5 years and in line with trends indicating fewer layoffs and steady net job gains.

Elsewhere in the oil market, Brent, the benchmark for international crudes, was up 18 cents to $115.09 a barrel on the ICE Futures exchange in London.

Brent has risen sharply recently due to fears of a U.S. intervention in Syria, even if the scale of the attack is now expected to be low.

Natural gas dropped after the Energy Department said supplies rose by 58 billion cubic feet to 3.188 trillion cubic feet.

Associated Press
| |

Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Dave Chappelle Reveals Shockingly Buff New Look
  2. 2
    Peaches Geldof Funeral to Be Held on Easter Monday
  3. 3
    Mayor Who Fired Lesbian Police Chief Caught On Tape In Homophobic Tirade
  4. 4
    NBA commissioner wants to raise age limit to 20
  5. 5
    Dream guitars I wouldn't mind calling my own (34 Photos)
+ show more